spm6726 powerpoint

spm6726 powerpoint - Agency Law Agency Employee Third Party...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Agency Law
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Agency Employee Principal Agent Third Party
Background image of page 2
Agency A legal relationship that is essential to corporate function (e.g., enter into contracts). Agent and Principal In an agency relationship, one party (the agent) agrees to represent or act on behalf of (and instead of) the other (the principal). Key Legal Issue: Are acts of A binding on P? Types of Agents: Employees (generally all deemed agents) Independent Contractors Real Estate Agents, Sports Agents, Insurance Agents Employee or IC?
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Agency Formation By Agreement Express Written Contract Verbal Agreement Implied Conduct (words and actions) Ratification Subsequent approval (by the principal) of a previously unauthorized contract between an agent and a third party Agency by Estoppel (Apparent Authority) Principal causes 3d party to believe that a certain person is their agent when they are not- 3d party deals with apparent agent- Principal is bound
Background image of page 4
Agent’s Duties An agent has a
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/24/2012 for the course SPM 4515 taught by Professor Yulanderwells during the Fall '11 term at University of Florida.

Page1 / 9

spm6726 powerpoint - Agency Law Agency Employee Third Party...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online